The Board of Directors of Eastern Holdings Ltd. (the “Company”) wishes to announce that its subsidiary Eastern Directories Pte Ltd (“EDPL”) has signed a non-binding Letter Of Intent (“LOI”) with Singapore Press Holdings Limited (“SPH”) to dispose of selected media assets.

EDPL plans to divest the following four events and related assets:

1. the IT Show;
2. the Computer Exhibition (“COMEX”);
3. the Food and Beverage Fair; and
4. the World Food Fair.

The above transaction is subject to satisfactory due diligence by SPH, negotiation of final terms and approval from the shareholders of the Company at an Extraordinary General Meeting which will be convened after the signing if successful of the Sales & Purchase Agreement.

Source : SGX

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